25 September 2010

Benchmarks : Weekly Update

  • Hugely profitable week (yesterday's rumored BOJ intervention notwithstanding) thanks to the Fed's 7 magical words re : QE2.
  • USDX : Strong sell signal confirmed by close under 80.08 (way below at 79.27).
  • US10YY : Selloff to 2.85% = retracement. Now back to 2.61%, downtrend resumption in yields. Some adverse pressure from strong equities but suspect in the end it will still break 2.42% and head towards 2.20%.
  • S&P500 : Hair pulling experience; scored a few own goals lately. Strong close at 1149 = confirmed buy signal for SHS bottom. Dear oh dear. Must buy dip towards 1131.
  • Gold : Record historical high close at 1296. This is not a bubble (yet). Up move powered by real money buying.

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